Laboratory Developed Test Market overview:
Laboratory developed test (LDT) is utilized to assess or distinguish a few substances from the human body, for example, synthetic mixtures like glucose, cholesterol, DNA, and proteins. Some lab identification tests are basic, and measure single analytes, for example, the Sodium level and some are intricate that distinguish DNA, RNA, and others.
In a recent research report by Market Research Community, the Laboratory Developed Test (LDT) Market is expected to surpass USD 7.77 Billion by the year 2028, from USD 4.87 Billion in 2021
Clinical biochemistry is expected to support the growth of the type segment in the laboratory development test market. Clinical biochemistry includes screening and measurement of chemicals in body fluids, blood, and urine samples. These test results are used to identify health problems and for early detection of chronic disease. This in turn is driving the market growth.
In the regional segment, Europe is expected to be the potential segment in the laboratory development test market. The factors surging the growth of the market are surgical procedures, road accidents, and the launch of technologically advanced products. Further, the Asia Pacific is projected to support the growth of the market due to the rising patient pool and growing medical tourism in the region.
The market is projected to grow at a significant pace reaching a CAGR of approximately 6.9%, over the forecast period of 2022–2028, despite a considerable fall in Service Operator sales during the initial phase of pandemic spread and lockdown restrictions imposed globally.
The study is consolidated into major segments and further into sub-segments, such as by Type (Clinical Biochemistry, Molecular Diagnostics, Immunology, Critical Care, Microbiology, Haematology, Others), By Application (Hospitals laboratories, Specialty Diagnostic Centers, Clinical Research organizations, Academic Institutes, Others), to Laboratory Developed Test Market forecast the market size by value; also includes the analysis of past market dynamics from 2016 – 2021, considering 2021 as the base year.
Lastly, the report includes a regional analysis and country analysis with the latest trends, along with the major key players including Quest Diagnostics Incorporated F. HOFFMANN-LA ROCHE LTD., QIAGEN, Illumina, Inc., Eurofins Scientific, Biodesix, Adaptive Biotechnologies, Biotheranostics, Rosetta Genomics Ltd., Guardant Health
Contact:
